The UK‘s Financial Conduct Authority has proposed a ban on cryptocurrency-related investment products to protect retail investors. In an announcement released earlier today, the FCA said that cryptocurrency-based derivatives and exchange traded notes (ETNs) are “ill-suited to retail consumers who cannot reliably assess the value and risks.” “Most consumers cannot reliably value derivatives based on unregulated cryptoassets,” said Christopher Woolard, Executive Director of Strategy & Competition at the FCA. The FCA added the ban would prohibit the “sale, marketing, and distribution” of “all derivatives,” including “contracts for difference (CFDs), options, futures, and ETNs” that relate to an unregulated transferable cryptoasset,…
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